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Monday, December 1, 2014

ANKARA, — Russia is unable to continue the South
Stream gas pipeline project implementation in current conditions,
Russian President Vladimir Putin said Monday.“Taking into account the European Commission’s position, which is not
contributing to the realization of this project, taking into account
the fact that we have only recently received permission from the
respective organizations in the Netherlands… Taking into account the
fact that we still have not received Bulgaria’s permission, we think
that Russia is unable to continue realization of this project in such
conditions,” Putin said at a press conference following talks
with Turkish President Recep Tayyip Erdogan.

“We cannot start the construction in the sea until we have Bulgaria’s
permission to begin construction in the sea. It would be absurd
to reach the Bulgarian coast and to stop then,” Russian leader added.

Due to the European Commission's non-constructive approach, Russia will redirect gas deliveries to other regions, Putin said.

"We think that the European Commission's position was
non-constructive. It is not that the European Commission has not helped
in realization of this project, we can see that the obstacles are being
created in its implementation. So, if Europe does not want to implement
it, it means that it will not be realized," the president explained.

"We will redirect the flow of our energy resources to other regions
of the world, including by advanced and fast realization of liquefied
natural gas projects," he said.

"We will advance to the other markets and Europe will not receive
these volumes, at least from Russia. We think that this is not
corresponding with Europe's economic interests and causes damage to our
cooperation. But this is the choice of our European friends," Putin
stated.

In 2012 Russian energy giant Gazprom
announced the beginning of construction of a pipeline across the Black
Sea to reduce the possibility of unreliable Russian natural gas passage
to central and southern Europe through the territory of Ukraine. The
pipeline is expected to be fully operational by 2018.Brussels has repeatedly stated that the project violated the European
Union's Third Energy Package, because under its charter it is an
illegal conflict of interest to simultaneously own a pipeline and
produce the natural gas that flows through it. Moscow insists that the
construction of the pipeline does not contradict the regulations.

Russia Could Create Additional Gas Hub for Southern Europe

Russia could create an additional gas hub in Turkey, on the border
with Greece, for gas consumers in Southern Europe, Russian President
Vladimir Putin said Monday.

"We are ready not only to increase [the capacity of] Blue Stream
[pipeline] … but also to build another pipeline system to meet the
growing needs of the Turkish economy and, if deemed viable, to create an
additional gas hub for the consumers in Southern Europe on the
territory of Turkey on the border with Greece," Putin said after a
meeting with Turkish President Recep Tayyip Erdogan.